It is encouraging to witness the spirit of African innovation colliding with the conundrum of financial inclusion for enhanced long-term African savings. Africa’s youth has proven to be a critical factor in transforming the medium and channels of savings through accelerated technology adoption. Pension savings on the continent are growing, but this growth can be accelerated through paradigm shifts around pension policy, regulation, incentives and mediums to enable greater participation rates.
- Sources 2022:
World Social Protection Report 2022 – 2022, International Labour Organization - Social Protection for the Informal Economy, The World Bank
- The Mobile Economy, Sub-Sharan Africa 2021, GSM Association
- Central Bank of Kenya Annual Report, 2021
- African Union, The Digital Transformation Strategy for Africa (2020 – 2030)
- OECD Pensions at a Glance, 2021
- https://population.un.org/dataportal/data/indicators/67/locations/910,911,912,913,914,903/start/2020/end/2050/table/pivotbylocation
- Partech Partners’ Africa Tech Venture Capital Report (2020)
- thebigdeal.substack.com
- Nyang’oro, Owen, and Githinji Njenga. Pension Funds In Sub-Saharan Africa, WIDER Working Paper 2022/95 Helsinki: UNU-WIDER, 2022